Investor love grows for the low-cost balanced fund + MORE Mar 6th

A million-dollar mansion in Canada may be anything but that, according to a report released today by a Canadian real estate company.
Royal LePage says that while $1 million can score a renovated four-bedroom, waterfront home in Halifax, it may only buy a smaller fixer-upper in Vancouver’s suburbs.
Toronto’s million-dollar market was a bit more accessible than Vancouver’s, according to the report, with deals on two-storey starter homes in `”up-and-coming neighbourhoods,” especially outside the downtown core in regions like Ajax, Pickering, Milton, Mississauga and Brampton.
The report says Winnipeg delivers the best bang for the millionaire’s buck, where it bought an average of four bedrooms and four bathrooms.

This celeb wants landmark status for her mansion »

Saskatoon offered the largest lot size for $1 million, where it says homes for that price were virtually unheard of a decade ago.
The study examined two-storey homes in seven Canadian markets in January 2017…

Canadians are feeling confident about their financial futures and planning to sock away extra money in their TFSAs this year, according to the results of a poll released Monday by Manulife.

With stock markets trading at or near all-time highs, robo-advisers are working at educating clients to remain focused on their plan even when an inevitable market correction comes.

Canadian investor confidence in stocks, mutual funds, TFSAs, RSPS and ETFs are all up these days, but it may be surprising to learn that it’s the simple Balanced Mutual Fund that received the biggest increase in consumer confidence—climbing 10% in one year.
Confidence in balanced funds, which blend stock and bond investments, is at its highest level since 2011. Increased confidence in balanced mutual funds is a sign of investors’ need for growth while taking into account the uncertainties of the market, says Kevin Headland, senior investment strategist for Manulife, who has done an annual survey on consumer confidence, using 2001 respondents at least 25 years of age or older. “While it’s been an uncertain year with Canadian elections, U.S. elections and the Brexit vote, people are realizing that there are some good things out there,” says Headland. “What better way to get good growth while also getting protection on the downside than with a good balanced fund?”
He’s right, but the survey also revealed a surprising truth: That Canadians still favour mutual funds over ETFs…

Q: As a teacher in Ontario with a healthy retirement future, I’m having trouble understanding how to budget for everything else, as many columns are dedicated to those with RRSP investments. In your opinion, how should I be budgeting the rest of my after-tax income? I have recently opened a TFSA investment account, but I’m not sure how much I should be saving for long term vs. short term, if I should have emergency funds, or even how much I should keep in a chequing account! Help! Any tips for a defined benefits worker in her 30s?
– Julia
A: Great question—and one that is fairly common. Budgeting should be a plan for your spending, as well as for your savings. But saving without a goal can quickly run out of steam, and you could lose motivation.
So start with the basics. Ask yourself what you want to accomplish in the short term (next 24 months), the mid-term (2  to 6 years), and long term (6 years or more).  Maybe it’s a new car, a home, travel, or to pay for your children’s education costs…